5 Best Forex Brokers in 2023

The best forex brokers should have, first of all, strong protection mechanisms for client accounts and deposits, followed by competitive pricing, and also, be highly rated by its customers.

When you’re searching for the best forex broker, which of the following is more important to you? Where the broker is based? What’s the maximum leverage available? The range of tradable instruments?

Well, in fact, all these variables are important. So, to help you select one from the best forex brokers in 2023, we have prepared this page with all those key features, including how users rate their services, pricing and product offerings. After all, a forex broker happy customers (or not) opinions, might have a decisive impact on your choice.

In partnership with FXverify.com (part of our digital family), and using our own review methodology, we have also determined the current 5 best forex brokers in 2023, in no particular order, highlighting their main features: 

• 
  IC MarketsECN trading platform with competitive spreads. Great customer support.
• 
  TickmillSuper-fast withdrawals. Strong regulations in place. Efficient customer support.
• 
  XMOriginal loyalty points scheme. Fast deposits and withdrawals. Customer support in several languages.
• 
  FxProWell-regulated forex broker. Friendly customer support. Several types of trading platforms.
• 
  RoboforexGreat for beginners. Multiple account types, including cent accounts. Fast withdrawals and deposits. Free VPS service.

Best Forex Brokers in 2023

IC Markets
Competitive Pricing

IC Markets is an Australian forex broker, incorporated in Sydney in 2007, by a team of professionals in the financial services industry, who were instrumental in the success of one of Australia’s largest CFDs and forex trading providers. The broker offers ECN environment trading solutions for active day traders, and scalpers as well as retail investors new to the forex market.

This excellent broker, regulated by Tier-1 Australia's ASIC, provides its clients with cutting-edge trading platforms, extremely low latency connectivity and superior liquidity. IC Markets is revolutionizing the on-line forex trading sector, as investors are now able to gain access to pricing and liquidity previously only available to investment banks and professional traders.

IC Markets mission is to create the best, and most transparent, trading environment for retail and institutional clients alike, allowing traders to focus more on their trading. Built by traders for traders, IC Markets is dedicated to offering competitive spreads, fast execution and a friendly customer support service.

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Tickmill
Excellent for Automated Trading

Tickmill, with headquarters in the UK, and regulated by the FCA, is a forex broker proposing a "new way" of trading, with extremely low market spreads and no-requotes, using STP and DMA trading models, with absolute transparency and the latest in trading technology.

This excellent broker has been built by traders for traders, with its team members trading experience going back to the 90’s, where they successfully traded on all major financial markets, from Asia to North America.

Tickmill is also highly rated by scalpers and traders using Expert Advisors and algorithmic trading systems, thanks to their lightning-fast execution speeds. These features, together with its team's strong experience on the financial markets, are the pillars of Tickmill's mission: provide a best FX trading environment and an overall trading experience.

Get started with Tickmill

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XM
Attractive Non-Deposit Trading Bonus

_{*Clients registered under the EU and ASIC regulated entities of the Group are not eligible for the bonuses}

The XM Group is a registered mark of Trading Point of Financial Instruments Ltd, and part of a group of regulated online brokers.

The broker was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10). Later, in 2015, Trading Point of Financial Instruments Pty Ltd was established, and this branch is regulated by the Australian Securities and Investments Commission (ASIC 443670).

In 2017 the broker XM Global Limited was established and regulated by the Financial Services Commission.

XM clients benefit from direct access to the financial markets, with over 1,000 financial instruments available, including forex, stocks CFDs, precious metals CFDs, energies CFDs, commodities CFDs and equity indices CFDs.

Trading is done with transparent real-time pricing, coupled with low spreads and flexible leverage. It is XM's mission to provide clients, not only with a trading environment that excels, but also, all the necessary tools to enhance trading performance, including product innovation, several quality educational materials, and personalized customer service.

Get started with XM

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FxPro
Great Choice of Trading Platforms

The FxPro Group Limited is a global company providing innovative online FX brokerage services, regulated in both the UK, by Tier-1 FCA, and in Cyprus by the CySEC. With an exceptional track record of profitable growth, FxPro’s core business is acting as the primary source to its global clients in FX trading.

FxPro provides its clients opportunities to trade also on major indices, commodities, metals and individual equities. The broker's client base primarily consists of retail investors, but it is increasingly servicing institutional partners as well, with transactions exclusively being executed online.

Due to its growth, FxPro’s client services are now available in more than 150 countries worldwide. The broker has made a combined effort over the last few years to make transparency not just a cornerstone of its business model, but also, to encourage it in the wider FX industry, as one of the leading brokers in the market.

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RoboForex
Excellent Environment for Beginners

Established in 2009, RoboForex is a fast-expanding CFDs broker. According to their corporate website, RoboForex reached the mark of more than 2,000,000 trading accounts opened, in 2018. Compared to 2009, when the broker established its headquarters in Belize, and had 1,724 trading accounts, that is an impressive growth rate!

RoboForex provides customers and partners with quality and reliable brokerage services, using modern tools and technologies. RoboForex aims to satisfy the needs and wishes of their clients, and providing them with reliable and affordable services, with a personal and confidential approach.

The broker follows a hybrid forex business model, serving both as a market maker, as well as offering Market Execution (ECN/STP) as a Non-Dealing Desk broker. The broker is also very popular with traders for the variety of trading platforms on offer, including the R Trader platform, where traders can, even with minimal coding knowledge, create their own automated strategy trading robot.

Get started with RoboForex

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Extra Factors to Consider When Choosing a Broker

When choosing the best broker for your trading journey, it is important to consider what factors apply to you as a trader, and what the broker can offer you.

For example, are you a beginner, or do you have limited funds to start trading? Then the best option would be a forex broker offering great educational materials to help you build your knowledge, and a broker offering low (or zero) minimum deposits.

It can also be the case that you are a fan of cryptocurrencies and wish to trade on the huge volatility of these instruments. Luckily, almost every broker is now offering crypto trading on their portfolio of instruments. The factor to consider here will be which broker is the cheapest, as crypto trading, being a new market with less competition, represents an opportunity for brokers to apply huge spreads and hefty trading commissions.

With literally hundreds of forex brokers fighting to get your attention, and with so many offers and trading conditions, in the end what really matters is not what the brokers offer, but instead, what are your trading requirements and personal criteria.

Once you write down the key factors of your criteria, you will end up knocking out the volume and short-listing just a few brokers. We also suggest a quick visit to our article How to Find the Best Forex Broker: 7 Key Factors to Consider, where you can find a detailed explanation about the most important variables, to help you choose your next forex broker.